Originally Posted by MNLandLoc
Scarlet, I always enjoy your posts because we seem to have similar viewpoints. But in your recent post you forgot to include the aproximate $240,000 in income over the course of the 5-7 year charter. I am not advocating a new charter purchase
(I bought used), but the income is an important factor to include in the math.
I'm glad you said that. We actually talked (got suckered) into hearing "the plan" again, at Annapolis. There are still some problems that I just can't seem to get past...
1. the catamaran
company will NOT guarantee the number of charter weeks you may get... you may get 26 weeks of charter.. or you may get none... no one will guarantee that.
2. the $240,000 in income does not make up for the payments + interest you pay for that 5-7 years.
3. The tax write off is only good if you make enough money
4. at the end of the 5-7 years, you will have a "charter boat"... Where, I.. personally, would prefer to buy a privately owned catamaran
that was well maintained.
5. you always hear of dealers talking about how great this is.. but, in the last year, I've rarely, if ever, heard an "owner" talk about what an amazing and profitable investment it is...
I'm always very leery of deals that seem "too good to be true".. and this is one of them.